Bank Islam Achieves Milestone as First Islamic Financial Institution in Malaysia to Attain ISO 37001 Anti-Bribery Certification

Bank Islam Malaysia Berhad has achieved a remarkable milestone by becoming the first Islamic financial institution in Malaysia to obtain the ISO 37001 Anti-Bribery Management System (ABMS) certification. This recognition reflects the bank’s commitment to combat bribery and corruption and underscores its dedication to upholding the highest ethical standards. The ISO 37001 certification confirms that the bank has implemented effective measures to prevent corruption, thereby enhancing its organizational efficiency and risk management. Bank Islam continues to emphasize integrity through educational initiatives and awareness programs for its employees.

13 October 2023 – Bank Islam Malaysia Berhad, a leading Islamic financial institution, has proudly received the prestigious ISO 37001 Anti-Bribery Management System (ABMS) certification from ABAC Center of Excellence Sdn Bhd (ABAC), marking a significant milestone as the first full-fledged Islamic financial institution in Malaysia to attain this esteemed recognition.

The certification ceremony took place at Menara Bank Islam, where Bank Islam’s Chairman, Tan Sri Dr Ismail Bakar, was presented with the accolade by the Group CEO of ABAC, Zafar Anjum. Dato’ Mohd Muazzam Mohamed, Bank Islam Group Chief Executive Officer, also graced the event.

Dato’ Mohd Muazzam Mohamed emphasized that the ISO 37001 certification signifies Bank Islam’s unwavering commitment to combat bribery and corruption and underscores its adherence to anti-corruption best practices. The accreditation not only raises the industry’s ethical standards but also positions Bank Islam as a responsible and principled institution.

“The ISO 37001 certification assures the management, staff, customers, and other stakeholders that the Bank has taken appropriate measures to prevent graft. It also enhances organizational efficiency and effectiveness in managing risks associated with bribery,” he affirmed.

ISO 37001 is an internationally recognized standard that outlines requirements and offers guidance for establishing, implementing, reviewing, and enhancing an anti-bribery management system.

Dato’ Mohd Muazzam explained that Bank Islam’s quest for integrity is an ongoing process, encompassing educational initiatives and awareness programs among its staff.

“To attain the ISO 37001 ABMS certification, we have undertaken several pivotal measures and policies, including the implementation of the ABMS Guideline, which serves as an internal document confirming that documented procedures align with ISO 37001 ABMS Standard prerequisites. This certification further complements the Bank’s commitment to maintaining the highest standards of conduct, good governance, and integrity,” he elaborated.

In July 2022, Bank Islam introduced its inaugural Organisational Anti-Corruption Plan (OACP) 2022-2025, reinforcing its stance against corruption. The Bank had also previously launched the Group Anti-Bribery and Corruption Policy in 2021, delineating the roles and responsibilities of employees in upholding fundamental values of integrity, transparency, and accountability across its operations.

Author: Terry KS

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